please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) During the past month, the following costs were incurred in the three production departments and two service departments of Kim &Co.:Supplying DepartmentAdministration.Factory supportDirect costAdministration0.10$ 620,000Using DepartmentFactory Support Fabrication0.40$1,320,0000.300.30$1,700,000Assembly0.200.10$282,000Finishing0.100.50$252,000Required:Allocate service department costs to Fabrication, Assembly, and Finishing using the reciprocal method, and determine the total costsof Fabrication, Assembly, and Finishing after this allocation. (Negative amounts should be indicated by a minus sign. Do not roundintermediate calculations. Round your final answers to the nearest whole dollar amounts.)4

The reciprocal method is one of the methods in cost allocation. such a method uses a simultaneous…

During the past month, the following costs were incurred in the three production departments and two service departments of Kim & Co.: Supplying Department Administration. Factory support Direct cost Administration 0.10 $ 620,000 Using Department Factory Support Fabrication Assembly 0.40 0.20 0.30 0.30 $1,700,000 $282,000 0.10 $1,320,000 Finishing 0.10 0.50 $252,000 Required: Allocate service department costs to Fabrication, Assembly, and Finishing using the reciprocal method, and determine the total costs of Fabrication, Assembly, and Finishing after this allocation. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.)

During the past month, the following costs were incurred in the three production departments and two service departments of Kim & Co.: Supplying Department Administration. Factory support Direct cost Administration 0.10 $ 620,000 Using Department Factory Support Fabrication Assembly 0.40 0.20 0.30 0.30 $1,700,000 $282,000 0.10 $1,320,000 Finishing 0.10 0.50 $252,000 Required: Allocate service department costs to Fabrication, Assembly, and Finishing using the reciprocal method, and determine the total costs of Fabrication, Assembly, and Finishing after this allocation. (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Round your final answers to the nearest whole dollar amounts.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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